FMCG’s CEO churn speeds up as growth gets tougher

The fast-moving consumer goods (FMCG) sector in India is experiencing a rapid turnover of leadership positions, with several major companies replacing their CEOs and reshuffling senior management over the past year. This includes Hindustan Unilever Ltd (HUL), Godrej Consumer Products Ltd (GCPL), Dabur India, Britannia Industries, and Colgate-Palmolive India, among others. Nestle India had also gone through a transition just before this cycle began.

The management changes are taking place against a backdrop of a challenging business environment for FMCG firms. They are grappling with uneven consumer demand, increased competition from regional and local brands, and the pressure to maintain growth while protecting market share, profitability, and earnings. Additionally, rising input costs due to geopolitical uncertainty and supply-chain disruptions have added to the strain, despite investors pushing for sustainable growth and better margins.

A notable example of this leadership upheaval is the abrupt departure of Sudhir Sitapati from GCPL earlier this month. Sitapati resigned just days after shareholders approved his reappointment for a new five-year term, causing GCPL shares to plummet by up to 11 per cent to a 52-week low. The company subsequently appointed Group Chief Financial Officer Aasif Malbari as his successor.

Colgate-Palmolive India has also announced leadership changes. Managing Director and CEO Prabha Narasimhan will transition to a broader Asia-Pacific marketing role, while Manish Anandani assumes the position of CEO from September 28. These changes signal that boards are increasingly seeking leaders who can execute efficiently, gain market share, and navigate the unpredictable consumer and competitive landscape.

The current wave of leadership turnover began with Priya Nair's appointment as HUL's managing director and CEO in August 2025, replacing Rohit Jawa. In November 2025, Britannia Industries saw the unexpected exit of Varun Berry after more than a decade leading the company. Britannia's new MD and CEO, Rakshit Hargave, was previously CEO of Birla Opus.

Dabur India restructured its leadership by appointing Herjit S Bhalla as CEO of its India business in April 2026, while Mohit Malhotra became the Global CEO, effectively splitting the company's India and international mandates. Nestle India also went through a change a year ago, with Manish Tiwary replacing Suresh Narayanan as Chairman and Managing Director.

Tiwary's appointment reflects a shift in board thinking towards leadership with a background in technology, execution, and digital commerce as Nestle India plans its future growth.